Showing 1 - 10 of 161
-shot competitive interactions, like Bertrand oligopolies and first-price auctions, where no collusion would be supportable otherwise …
Persistent link: https://www.econbiz.de/10011608616
We study the government's decision to sell a state-owned enterprise to strategic investors in a common value auction setting. The government can choose to sell his control stake all at once, or to design a sequential auction of shares. The sequential auction allows information transmission, so...
Persistent link: https://www.econbiz.de/10011608799
discriminatory auction is found to be more susceptible to collusion than are the uniform-price auctions, and so contrary to …
Persistent link: https://www.econbiz.de/10011324892
Internet auctions, such as those on eBay, are known for multiple bidding and sniping. Buyers send bids in the closing … both sniping and multiple bidding. By submitting multiple bids, buyers co-ordinate between auctions, so that all objects …
Persistent link: https://www.econbiz.de/10011324893
We study entry and bidding patterns in sealed bid and open auctions with heterogeneous bidders. Using data from U ….S. Forest Service timber auctions, we document a set of systematic effects of auction format: sealed bid auctions attract more … extends the theory of private value auctions with heterogeneous bidders to capture participation decisions, that can account …
Persistent link: https://www.econbiz.de/10011325016
A buyer with downward slopping demand faces a number of unit supply sellers. The paper characterizes optimal auctions …
Persistent link: https://www.econbiz.de/10011325018
This paper studies multi-attribute auctions in which a buyer seeks to procure a complex good and evaluate offers using … kinds of results. First, we characterize the set of equilibria in quasi-linear scoring auctions with multi-dimensional types …. In particular, we show that there exists a mapping between the class of equilibria in these scoring auctions and those in …
Persistent link: https://www.econbiz.de/10011325022
We study sealed-bid auctions with financial externalities, i.e., auctions in which losers' utilities depend on how much …
Persistent link: https://www.econbiz.de/10011325059
Short-term auctions for access to entry terminals of the British gas-network appear to successfully allocate scarce … resources and capture scarcity rent. Now long-term auctions are being introduced to guide future capacity expansion decisions …-term auctions for transmission capacity are not necessarily preferable to regulatory approved capacity expansion. …
Persistent link: https://www.econbiz.de/10011325061
We consider an auction setting in which potential buyers, even if they fail to obtain the good, care about the price paid by the winner. We study the impact of these price-externalities on the first-price auction and the second-price auction in a symmetric information framework. First, we...
Persistent link: https://www.econbiz.de/10011325066